Merger With U.S. Interests
(N.Z. Press Association) AUCKLAND, January 19.
The long-established firm of Auckland Water Transport, Ltd., has merged with the Hawaiian Tug and Barge Company, Ltd., of Honolulu, a member of the giant Dillingham Corporation of America.
Mr H. L. Julian, managingdirector of Auckland Water Transport, said today that both the management and the staff of the firm would remain unchanged. Mr Julian said that with the backing of the larger firm it was intended to expand the company’s present operations. “They can provide capital for development which is not readily available in New Zealand,” he said.
“They also have the technical knowledge gained over more than SO years of operat-
ing tugs and barges in the Pacific area to aid development here.”
Auckland Water Transport was formed in 1919 by Mr Lance Julian, Mr Julian’s father. The company owns a fleet of shingle and general cargo barges and tugs trading on the east coast out of Auckland. “This merger does not mean that the identity of the present company is lost,” said Mr Julian. "It means that we will have the capital to expand on the lines originally envisaged by my father.”
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Bibliographic details
Press, Volume CIV, Issue 30653, 20 January 1965, Page 1
Word Count
195Merger With U.S. Interests Press, Volume CIV, Issue 30653, 20 January 1965, Page 1
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